Key To Success For Realtors

In the real estate market, getting listings has always been the key to success for realtors. It is accepted that to be a successful real estate agent you just have to have good listings and plenty of them. If your listings are under-priced then you don’t have to worry, as the multiple offers will soon flood in. If your listing is over-priced, then in a week or two you can reduce the price to the right amount. This year the trend seems to be changing, as now just having the listings may not be enough. Now sellers are looking experienced realtors with whom to list their home. An experienced realtor represents added value because he or she has been through the process repeatedly and is therefore less likely to make mistakes. Additionally, since the experienced realtor is already quite familiar with the process, he or she can take time to monitor current market trends, instead of fretting over the details.

Another key to success is getting a “saleable” listing. Which can be obtained only by the right pricing. As the market has become very uncertain, you cannot expect to sell the property with a high price quote.

And here lies the problem, as novice or inexperienced realtor cannot read the market as well as the experienced realtor would do. Worse yet, the rookie realtor may not have the confidence to tell a seller that they want to set the price too high. This is called “managing expectations”. Many of the inexperienced realtors try to quote a high listing price, which excites the seller for the moment and may convince them to sign. But this also is a temporary effect and quite possibly the first step on the road to ruin. Quoting a high price does not help the property to get sold and may have just the opposite effect.

A good and experienced realtor is the one who studies the market carefully and then goes for a practical price quote. Doing this is important and requires that the seller understand the importance of competitive pricing.

In today’s market the only key to success is the right price quote resulting in a “saleable” listing.

Article by Rose Chapman. Rose Chapman is a professional traveler and a blogger. Click here to contact Rose.

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